US-China relations have remained strained for years due to hegemonic rivalry within the Pacific and mutual suspicion over each other's political intentions. The call today between the 2 commerce ministers is a component of an effort to bridge these fraught ties under the Biden administration.
The us of America (USA) and China have agreed to barge mutual links in trade and investment, press agency Bloomberg reported, citing a call between Chinese commerce minister Wang Wentao and his US counterpart Gina Raimondo on Thursday morning. In what comes as their first such call since the beginning of the Biden-Harris administration, the ministers “agreed to market the healthy development of pragmatic cooperation in trade and investment” and “exchanged views frankly and pragmatically on relevant issues and mutual concerns,” consistent with a press release by the Xi Jinping-led Chinese government.
US-China relations have remained strained for years due to pinched economic ties, hegemonic rivalry within the Pacific, mutual suspicion over each other's political intentions, and global influence. The call today between the commerce ministers of two countries is a component of an effort to bridge these fraught ties under the Biden administration — and is that the third such call in the week , after Chinese vice-premier Liu He spoke with US trade representative Katherine Tai and treasury secretary Janet Yellen earlier.
China appears optimistic regarding the newest attempts in normalising economic and political ties between the 2 countries. consistent with Gao Feng, the spokesperson for China's commerce ministry, the country has started "normal communications" with the US. the 2 sides have agreed to pragmatically solve some issues for producers and consumers, and promote healthy, stable economic and trade ties, he said.US statements, on the opposite hand, don't look that positive. While the Biden administration is committed to leveling the "significantly imbalanced" trade ties with China, there are parts of the US-China relationship “that are unhealthy and have over time been damaging in some vital ways to the US economy,” said US trade representative Katherine Tai said on the weekend before a gathering of Asia-Pacific trade ministers.
Investors and market analysts are keeping an in depth watch on the developments within the international sphere, consistent with the press agency , without getting overly excited about the normalisation attempts just yet. While it's true that both countries stepping up economic and trade cooperation may be a positive step worth highlighting, it's also true that any notable "game-changing decision" or announcement is yet to be made.
